⚙️Staking for Rewards
Last updated
Last updated
Staking involves locking up a certain amount of CSHOP tokens into a smart contract for a predetermined period. In return, users receive rewards based on the amount of tokens staked and the duration of the stake. This process not only helps secure the platform but also provides users with the opportunity to earn additional tokens.
Earn Rewards
Staking CSHOP tokens allows users to earn rewards in the form of additional tokens. The longer and larger the stake, the greater the rewards. This system is designed to incentivize users to lock their tokens and support the network’s stability.
Exclusive Access
Staking CSHOP tokens can also grant users access to exclusive features, such as early access to new products, special discounts, or VIP events within the Shophekart marketplace.
Lower Transaction Fees
Users who stake CSHOP tokens may benefit from reduced transaction fees on the Shophekart platform. This can result in significant savings for frequent traders and buyers.
Enhanced Platform Security
By staking tokens, users contribute to the security and stability of the Shophekart platform. The staked tokens help ensure the smooth operation of the network and the integrity of transactions.
Choose a Staking Period
Users can select from various staking periods, each offering different reward rates. Longer staking periods typically yield higher rewards.
Lock Your Tokens
Transfer the desired amount of CSHOP tokens into the staking smart contract through the Shophekart platform’s staking interface. Tokens will be locked for the duration of the chosen staking period.
Earn Rewards
During the staking period, rewards will accumulate based on the amount staked and the duration of the lock. Users can track their rewards and staking progress through their Shophekart account.
Unstaking
After the staking period concludes, users can choose to either withdraw their tokens or reinvest them into a new staking contract. Unstaking may be subject to certain conditions or waiting periods depending on the chosen staking option.
Total Allocation: 5% of the total CSHOP supply (40 million tokens)
Vesting: Tokens allocated for staking have a 6-month cliff, after which they are 100% unlocked. This approach ensures that rewards are available once the staking period ends, promoting long-term participation.
